The dry bulk market showed a varied performance this week, with some segments seeing steady gains while others softened under midweek pressure. Strong miner activity and resilient Atlantic demand provided support, though easing sentiment in parts of Asia and the Pacific capped momentum. Below is a breakdown of how each vessel class performed.
Capesize: Steady but Capped by Midweek Weakness
The Capesize market delivered a broadly steady performance. The Pacific began strongly on the back of miner activity and firmer C5 fixtures but lost momentum midweek, with rates slipping towards $10.00 before firming slightly to $10.20 by Friday.
In the Atlantic, South Brazil and West Africa to China routes remained active, with C3 fixtures in the low-to-mid $24,000s for late September dates, while October demand started to emerge. The North Atlantic showed more fronthaul and transatlantic activity, though rates softened from earlier highs. The BCI 5TC index opened at $25,140, dipped midweek, but closed at $24,257 on Friday, still up $339 on the day.
Panamax: Strong Start, Tepid Finish
The Panamax sector began on a positive note but lost steam toward the weekend. In the Atlantic, fronthaul trips from the Americas saw support, with US East Coast/NC South America transatlantic runs hovering near $20,000 depending on vessel specs. Asia’s coal runs ex-Australia held around $15,500–16,000 for index types early in the week but weakened later. Longer NoPac trips were quiet, with Indonesia–China coal runs providing limited support. Period activity was notable, including an 82,000-dwt delivery China fixed at $16,000 for one year.
Ultramax/Supramax: Atlantic Strength, Asian Stability
The Ultramax/Supramax segment experienced a firmer week, particularly in the Atlantic. Tight tonnage in the US Gulf supported stronger numbers, with Ultramax offers around $30,000 for fronthaul. A 63,500-dwt fixed from Bristol to Egypt at $30,000 and a Santos Port Said trip at $27,000 highlighted the strength.
Asia also posted positive sentiment, with a 55,000-dwt ex-China to Bangladesh at $21,500 and a 63,000-dwt from Campha to Chittagong at $23,000. However, some cooling was felt heading into the weekend. In the Indian Ocean, activity was subdued, with fixtures such as a 63,000-dwt ex-Mumbai via South Africa to China at $12,000.
Handysize: Firming Across the Board
Handysize rates strengthened across most regions. In Europe, sentiment improved with fixtures like a 37,000-dwt Antwerp–US Gulf trip at $9,750. The South Atlantic and US Gulf remained robust, supported by steady demand, with a 39,000-dwt Recalada–Peru grains run at $21,000 and a 37,000-dwt SW Pass WC South America trip also at $21,000. Asia held firm with healthy cargo flows and limited tonnage, exemplified by a 39,000-dwt from Huludao to Oman at $13,000. Period activity saw interest, with fixtures such as a 36,000-dwt from Lagos at $12,500 for 3–5 months redelivery Atlantic.
This week’s dry bulk market reflected mixed trends: Capesize rates were steady but capped by midweek weakness, Panamax momentum eased despite early support, while Ultramax/Supramax and Handysize segments showed stronger resilience, particularly in the Atlantic. With October demand beginning to surface, sentiment for the coming weeks may hinge on how strongly fresh cargoes emerge across basins.
Did you subscribe to our daily Newsletter?
It’s Free Click here to Subscribe!
Source: Baltic exchange
